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The global companion animal pharmaceuticals market is projected to reach USD 19.6 billion by 2027 from USD 14.4 billion in 2022, at a CAGR of 6.3% during the forecast period. Increasing R&D investments for animal healthcare

Initiatives by various government agencies and animal associations, High pet ownership rates worldwide will fuel this market development in the upcoming years

To know about the assumptions considered for the study download the pdf brochure

The global companion animal pharmaceuticals market is consolidated at the top, with many leading market players based in developed countries. The prominent players in this market are Zoetis, Inc. (US), Merck & Co., Inc. (US), Boehringer Ingelheim International GmbH (Germany), Elanco Animal Health Incorporated (US), Eco Animal Health Group PlC (UK), Virbac (France), Dechra Pharmaceuticals PLC (UK), Vetoquinol (France), Neogen Corporation (US), Orion Group (Finland), Zenex Animal Health India Private Limited (India), Norbrook Holdings Limited (UK), Chanelle Pharma (Ireland), HIPRA (Spain), Ceva Sante Animale (France), Tianjin Ringpu Bio-Technology Co Ltd. (China), Kyoritsu Seiyaku (Japan), Endovac Animal Health (US), Indian Immunologicals Ltd (India), Ashish Life Sciences Pvt Ltd (India), Lutim Pharma Pvt Ltd (India), Biogénesis Bagó (US), Brilliant Bio Pharma (India), Intas Pharmaceuticals (India), and Vetindia Pharmaceuticals limited (India).

These players have adopted various growth strategies to strengthen their position in the market. These include product launches, contracts, partnerships, mergers and acquisitions, and new product development activities further to expand their presence in the companion animal pharmaceuticals market.

Zoetis Inc

Zoetis accounted for an estimated share of 28-31% of the companion animal pharmaceuticals market in 2021. The company provides highly diversified products for a wide range of animal species. The company’s broad geographic diversity has enabled it to deliver its animal healthcare products to more than 110 countries worldwide. To maintain its position in the companion animal pharmaceuticals market, the company focuses on providing innovative products, building a strong geographical network, and enhancing its R&D capabilities to deliver measurable and beneficial results for animals.

Merck & Co. Inc

Merck accounted for an estimated share of 14-16% of the companion animal pharmaceuticals market in 2021. The company’s strong focus on a broad range of animals, investments in collaborations and partnerships, and comprehensive quality systems and processes are driving its growth in the market. The company focuses on acquisitions, expansions, collaborations, and product launches. In July 2020, Merck acquired the US rights from Virbac for the SENTINEL brand of combination parasiticides used to protect dogs against fleas and common intestinal parasites. This helped Merck offer a comprehensive portfolio of products for companion animals.

Boehringer Ingelheim Gmbh

Boehringer Ingelheim accounted for an estimated share of 14-16% of the companion animal pharmaceuticals market in 2021. The company’s strong focus on R&D and investments in collaborations, partnerships, and acquisitions have ensured its position in the market. The company focuses on expansions to strengthen its geographic footprint, presence, and growth. In August 2019, Boehringer Ingelheim opened a Health Management Center in China. The center integrates animal disease and health diagnostics as well as provides monitoring tools to maintain and enhance animal health.

Elanco Animal Health Incorporated

Elanco Animal Health is one of the key players in the companion animal pharmaceuticals market, with an estimated share of 10-11% in 2021. To remain competitive and grow, the company focuses on expanding and strengthening its partnerships with existing customers, enhancing operations and quality, enhancing capabilities and expertise, and developing innovative products. The company pursues growth through a number of organic and inorganic growth strategies, such as product launches, expansions, acquisitions, agreements, partnerships, collaborations, and divestitures, to broaden its product portfolio and grow its existing business segments. In August 2019, Elanco acquired Bayer’s Animal Health business. This acquisition doubled Elanco’s companion animal business and advanced the company’s portfolio mix by creating a balance between its food animal and companion animal segments.

Related Reports:

Companion Animal Pharmaceuticals Market by Animal Type (Dogs, Cats, Horses), Route of Administration (Oral, Injectable, Topical), Indication (Antibiotics, Parasiticides), Distribution Channel (Veterinary Hospitals & Clinics) - Global Forecast to 2027

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